Kathmandu: Corporate customers of Citizens Bank International Limited will now be able to access a wide range of banking services through a single platform following a partnership between the bank and API banking platform RAPID.
Under the collaboration, RAPID has been integrated into Citizens Bank’s system, enabling corporate clients to manage their banking activities directly through their own software or ERP systems.
With the new integration, customers can check account balances, download statements, transfer funds, make EMI payments, and process salary disbursements without having to switch between multiple platforms. Users can connect their bank accounts through the “Connect with API Banking” feature.
According to Ashitosh Sah, Business Head at Gokyo Labs, the partnership is expected to significantly improve the banking experience for Citizens Bank’s corporate clients. “By digitally integrating financial operations, businesses can reduce the time, cost, and operational complexity associated with managing banking services,” he said.
Citizens Bank stated that corporate customers only need to complete a one-time registration form at the bank, similar to the process for enrolling in mobile banking services. Once registered, most banking services can be accessed and managed online.
The platform has also digitized the customer consent process, making it more convenient and transparent for users.
In terms of security, RAPID uses end-to-end encryption, multi-layer verification, and advanced security protocols to safeguard digital transactions and customer data.
RAPID is an API-based banking platform that connects banks, fintech companies, and digital service providers through a Banking-as-a-Service (BaaS) model. The platform aims to simplify API banking and make digital banking services more accessible to businesses of all sizes, from small enterprises to large corporations.
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